December 21, 2024
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News in brief BANGOR: CITY PROPOSES $1.9 MILLION IN BONDS

Members of the City Council’s finance committee agreed Monday to recommend that the full council authorize the issue of two general obligation bonds totaling $1,920,000. A $1,265,000 bond issue would be used to pay off bonds the city obtained in 1995 and 1996 to fund a variety of projects, including work at the library, motor pool, central fire station and Sawyer Arena, as well as the widening of Broadway and a landfill closure project. Refinancing at a lower interest rate will save the city an estimated $66,000 in interest over the next 10 years, Finance Director Debbie Cyr said. The other bond issue, for $455,000, will cover part of the cost of designing and installing a HVAC and air-handling system at the Bangor Nursing and Rehabilitation Center at 103 Maine Ave., a building that also houses the city’s health and welfare department. The project is part of $2.25 million in facility improvements the city agreed to provide when the former city nursing home was spun off to a separate nonprofit entity.


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